Cincinnati Financial Q2 net income $534M vs loss $818M a year ago; operating income up 103%

CINCINNATI FINANCIAL CORP

2023-Q2 EPS reported $4.80 revenue$4,846,000,000

Net income $534M ($3.38 per share) vs net loss $818M ($5.12 per share) in Q2 2022.
Non-GAAP operating income $191M ($1.21 per share) up 103% from $94M ($0.59) YoY.
Earned premiums $1.943B (+10% YoY); net investment income $220M (+13%).
Book value per share $70.33 at June 30, 2023, up $3.12 from year-end; H1 value creation ratio 7.2%.
Cash dividend declared $0.75 per share, up 9% from $0.69 in Q2 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CINCINNATI FINANCIAL CORP reported Second-Quarter 2023 results: revenue 2,605, net income $534 million, EPS $3.38 per share.

Period: Second-Quarter 2023
Revenue: 2,605
Net income: $534 million
EPS: $3.38 per share
Result: reported results

Exact text from the filing

2023 2022 % Change 2023 2022 % Change Revenue Data Earned premiums $ 1,943 $ 1,773 10 $ 3,861 $ 3,466 11 Investment income, net of expenses 220 195 13 430 380 13 Total revenues 2,605 820 218 4,846 2,038 138 Income Statement Data Net income (loss) $ 534 $ (818) nm $ 759 $ (1,084) nm Investment gains and losses, after-tax 343 (912) nm 427 (1,438) nm Non-GAAP

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Source: SEC EDGAR

accession 0000020286-23-000057

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